BT Financial Group gets MySuper sign-off
BT Financial Group announced this week that it had received Australian Prudential Regulation Authority (APRA) approval for its MySuper licences and would launch actively-managed "lifestage" funds as its MySuper solution.
It said its use of "lifestage funds" meant that asset allocations automatically changed to be more conservative as a person neared retirement age.
The company said it had received MySuper approvals with respect to:
- BT Super for Life
- BT Lifetime Super - Employer Plan
- BT Business Super
- Asgard Employee Super Account
BT Financial Group's general manager of superannuation, Deanne Stewart, said the company was well-placed under the MySuper regime as a result of its strong history actively managing lifestage funds.
BT Financial Group's MySuper products will be available from 1 October 2013.
Recommended for you
ASIC has launched court proceedings against the responsible entity of three managed investment schemes with around 600 retail investors.
There is a gap in the market for Australian advisers to help individuals with succession planning as the country has been noted by Capital Group for being overly “hands off” around inheritances.
ASIC has cancelled the AFSL of an advice firm associated with Shield and First Guardian collapses, and permanently banned its responsible manager.
Having peaked at more than 40 per cent growth since the first M&A bid, Insignia Financial shares have returned to earth six months later as the company awaits a final decision from CC Capital.
